Fintech
Financial Technology Council of America Welcomes Bloom Credit as It Aims to Democratize Financial Services
Credit Data Solutions Provider Bloom Credit became the newest member of the American Fintech Council (AFC), the industry association representing fintechs and responsible banks. Bloom Credit is an API platform that modernizes credit reporting, provision and assessment and hopes to democratize financial services and improve access to credit.
Bloom Credit offers a comprehensive platform that enables fintechs and innovative banks to offer reliable credit services, improving their ability to effectively serve consumers and partners.
The Data Solutions Platform provides APIs for data access (credit inquiries) and delivery (credit reports), allowing customers to order complex credit data products with a simple, office-independent API and receive data in a standard, normalized format.
Bloom’s Supply APIs also enable reporting of corporate and consumer tradeline data, backed by an extensive validation process. The Supply APIs also support consumer-authorized data, an important aspect of financial inclusion solutions.
“We are leveling the playing field for fintechs and banks of all sizes who want to securely and seamlessly access and provide accurate credit data and maximize credit optionality for consumers,” he explained. Christian WidhalmCEO of Bloom Credit. “Understanding the holistic picture of a consumer’s credit creates additional financial products and responsible tools to enable consumers on paths to greater financial health.
“We thank the American Fintech Council for its tireless support and advocacy for responsible innovators who are changing the status quo, and we look forward to collaborating with its growing membership.”
Expanding the types of credit data accepted
“Providing more people in the United States with access to credit requires financial services innovation that ensures accurate credit data and provides a holistic profile,” he said. Phil GoldfinchCEO of the American Fintech Council. “Bloom Credit is changing the financial services ecosystem by safely and efficiently simplifying and expanding the type of credit data that lenders can consider, opening up a world of opportunity for consumers who have historically been excluded.
“We are thrilled to welcome Christian and his team and add their powerful voices to the chorus of companies changing the future of finance.”
A standards-based organization, AFC seeks to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members promote competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.